Effective pricing strategies are built upon the five Cs of pricing. These include Company Objectives, Customers, Cost, Competition, and Channel Members.

Company objectives influence pricing strategies to ensure alignment between product prices and business goals.

For example, Apple's objective to position iPhones as a premium product results in higher prices than the Samsung Galaxy S Series, which aims for broader appeal via affordable pricing.

The customers' willingness to pay for their perceived value also affects the price.

Apple's customers are willing to pay the premium for a superior experience, while Samsung's buyers seeking functionality are cost-conscious.

Costs, including production and operations, significantly impact pricing.

The iPhone's advanced technology, heavy investment in R&D, and sophisticated design justify its higher price than the cost-efficient Samsung Galaxy S.

Competitors also play a crucial role; Apple's ecosystem shields it from severe competition, while Samsung,  amid fierce competition, frequently adjusts its prices.

Finally, the decision on channel members, such as selling through exclusive Apple and Samsung outlets or opting for retail partners, would affect pricing.